Miners drive rebound in European stocks

European shares rebounded on Monday after five straight weeks of falls, as gains in mining stocks and positive earnings reports outweighed worries of a looming policy tightening cycle and geopolitical tensions.

The pan-European STOXX 600 inched up 0.1% after losing 0.7% last week.

Miners led the rebound, adding 1.2% as aluminium prices in China jumped 3%, bolstered by supply concerns and expectations of strong demand, while Chinese steel and iron ore futures rose after the state planner called for faster infrastructure construction.


Rio Tinto and Anglo American gained 1.1% and 1.6%, respectively.

Aurubis AG, Europe's largest copper producer, jumped 4.7% after confirming an 85% rise in quarterly profit and reiterating higher full-year earnings estimates on solid metal prices and strong output.

French automotive group Faurecia advanced 3.1% after saying it would aim for sales of above 33 billion euros ($37.72 billion) in 2025, at an operating profit margin of more than 8.5%.